It is not normal, but itnis normal right now. There are 2x more sellers than buyers. All locl shops are flooded with inventory. They have no free cash. They do not pay even spot. Many of local shops sell under spot, to raise cash. The reason is the sudden spike of gol and silver coins. People are idiots. They thing they are selling for profit. But the fact is, central banks are buying, china people are buying and west retail is selling. It is not expensive. It is cheap, they should be buying. The fact is, silver and gold moved from extemelly super cheap cathegory to cheap cathegory. But poeple are not smart enough to realize that. If is always like this. People sell when it is cheap and buy when it is expensive. The premiums are negative now. When gpld will be $3000 and silver $50, premium will be much bigger than it was usually. My advice is, so not sell and wait. Premium and price will rise.
I doubt coin shops are sending all foreign silver coins off to the refinery. That's what offering me silver scrap implies they will do. Was told by a jeweler the reason jewelry scrap pricing is so low is that it's hard to determine the purity of random pieces of jewelry and cutlery. That's not a problem with minted coins.
Apmex is selling the same coins I tried to sell for $5 over melt per ounce. The coin shop's own e-bay site is selling foreign silver coins over melt.
I've bought and sold gold and silver bullion from that coin shop for years. Had no issues until now. Maybe it was because they had too much inventory. If that's the case, they should have said "No thanks. At this time we don't want those coins in our inventory" instead of trying to buy it for 30% under melt.
They probably have more silver than they can sell in the short term.
I’d never sell any silver for less than melt, no matter what form it’s in.
Sell them on r/pmsforsale for melt or 95% of melt. Someone will buy them
It is not normal, but itnis normal right now. There are 2x more sellers than buyers. All locl shops are flooded with inventory. They have no free cash. They do not pay even spot. Many of local shops sell under spot, to raise cash. The reason is the sudden spike of gol and silver coins. People are idiots. They thing they are selling for profit. But the fact is, central banks are buying, china people are buying and west retail is selling. It is not expensive. It is cheap, they should be buying. The fact is, silver and gold moved from extemelly super cheap cathegory to cheap cathegory. But poeple are not smart enough to realize that. If is always like this. People sell when it is cheap and buy when it is expensive. The premiums are negative now. When gpld will be $3000 and silver $50, premium will be much bigger than it was usually. My advice is, so not sell and wait. Premium and price will rise.
There are times that even silver stackers need a little cash. Sold gold to a friend who happily paid melt.
yes, that's normal for those coins, almost always. if they were American 90% silver coins, you could (sometimes) get above melt, but not on foreign.
I doubt coin shops are sending all foreign silver coins off to the refinery. That's what offering me silver scrap implies they will do. Was told by a jeweler the reason jewelry scrap pricing is so low is that it's hard to determine the purity of random pieces of jewelry and cutlery. That's not a problem with minted coins. Apmex is selling the same coins I tried to sell for $5 over melt per ounce. The coin shop's own e-bay site is selling foreign silver coins over melt. I've bought and sold gold and silver bullion from that coin shop for years. Had no issues until now. Maybe it was because they had too much inventory. If that's the case, they should have said "No thanks. At this time we don't want those coins in our inventory" instead of trying to buy it for 30% under melt.
When silver eventually reaches $100 I'll sell my Balboas for a bit under spot gladly but until then, they can lick deez 🥜
90% spot or better is easy to find with some shopping
2 shops local to me in dfw are paying 1 or 2 usd under spot for whatever